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BYD and Zongshen Join Forces to Target the 350 Million Two-Wheeler New Energy Vehicle Market

In the context of the global new energy transformation, China's two-wheeled electric vehicle market has gradually entered the era of lithium batteries. On October 28, 2024, BYD and Jiangsu Zongshen announced the establishment of the "Lithium Battery Pack Management Advisory Committee" to promote the wide application of lithium batteries in two-wheeled electric vehicles. This cooperation represents a new era in which lithium batteries replace traditional lead-acid batteries and opens up huge market opportunities.

. Cooperation background and market opportunities

BYD has a deep technical foundation in the field of electric vehicles and power batteries, while Jiangsu Zongshen is an established company in the two-wheeler market. The cooperation between the two parties will combine BYD's lithium battery technology with Zongshen's two-wheeler production and market resources, and is expected to make waves in the 350 million two-wheeler stock market. According to data from market research institute SPIR, the penetration rate of lithium batteries for two-wheeled vehicles has reached 22.4% in 2020, although it has fallen back due to the fluctuation of material prices, but the sharp decline in lithium carbonate prices in 2024 has brought lithium batteries back to the cost-effective track.

Ding Lu, director of Jiangsu Zongshen Group, said that China's two-wheeler stock market provides a broad space for the development of lithium batteries, and Zongshen plans to gradually switch market vehicles from lead-acid batteries to lithium batteries through this cooperation to improve its environmental benefits and market competitiveness.

BYD and Zongshen have joined forces to attack the two-wheeled new energy vehicle market, aiming to promote China's two-wheeled electric vehicle market into the lithium battery era

Figure: BYD and Zongshen have joined forces to attack the two-wheeled new energy vehicle market, aiming to promote China's two-wheeled electric vehicle market into the lithium battery era

. Innovation of cooperation content and model

The cooperation between BYD and Zongshen is not only about technical docking, but also about products, marketing, user education and sales channels.

1.                - Products: BYD has provided Zongshen with seven standard lithium battery packs, which are seamlessly integrated with two-wheeled electric vehicles. These lithium battery packs have the characteristics of high safety, long battery life and fast charging, and are suitable for different vehicle models.

2.                - Marketing: In order to promote the concept of replacing lead-acid with lithium batteries, the two parties will carry out trial promotion activities across the country, so that consumers can experience the advantages of lithium batteries. At the same time, new media means such as online live broadcast will bring more traffic to the products of both parties.

3.                - User education: In response to the low market penetration of lithium batteries, the two parties will use a series of popular science activities to let consumers understand the advantages of lithium batteries and the key points of safety in use.

4.                - Sales channels: Online and offline activities are combined with offline store displays to provide consumers with convenient purchase and after-sales services.

Zhang Shitong, regional manager of BYD, said that the lithium battery products of both sides will be widely used in two-wheeled and three-wheeled small vehicles, and will also lay out shared battery swap scenarios in the future to provide a more convenient way of energy supply.

. Technical advantages and lithium battery application prospects

BYD chose lithium iron phosphate batteries as the core of the cooperative products, and its stable chemical properties ensure the safety performance and service life of the two-wheeled vehicle. Lithium iron phosphate not only has excellent cycle life, but is also stable at high temperatures, reducing the risk of spontaneous combustion and explosion. In addition, BYD is actively promoting the application of sodium-ion battery technology in the field of two-wheeled vehicles, and is expected to pilot the use of large cylindrical sodium batteries to replace lithium batteries in Shenzhen to achieve a lower cost of energy supply.

It is estimated that by 2029, the size of China's electric two-wheeler lithium battery market will reach 30.9 billion yuan, with shipments of about 38.6 GWh. The penetration rate of lithium batteries is expected to increase to 35.2%, indicating that lithium batteries have good growth potential in the two-wheeler market. This rapid growth will help companies gain a larger market share and promote the popularization of lithium batteries in the global market.

. the impact of policy support and standardization

With the surge in demand for electric two-wheelers, policy support and standardization have further promoted lithium batteries to replace lead-acid. China recently released "Safety Technical Specification for Lithium-ion Batteries for Electric Bicycles" GB 43854-2024 will officially come into force on November 1. The specification was compiled by BYD's Fodi Battery, which provides a safety guarantee for the application of lithium batteries in the two-wheeled vehicle market.

On the basis of the new national standard, Fodi Battery quickly passed the "Mandatory National Standard Evaluation of Lithium-ion Batteries for Electric Bicycles" and became one of the first suppliers to meet the standards. This shows that in the future market competition, enterprises that meet national standards will have an advantage in quality and safety. In addition, the subsidy policy of local governments for lithium battery swap stations is also gradually implemented, which will accelerate the construction of charging and swapping infrastructure and provide strong support for the popularization of lithium batteries in the two-wheeled vehicle market.

Conclusion

The cooperation between BYD and Jiangsu Zongshen will drive the transformation of lithium battery in the two-wheeled electric vehicle market. This strategy is not only a positive response to market demand, but also drives the adoption of cleaner and more affordable battery technology, providing consumers with greener mobility options. Under the trend of global energy transition, the application potential of lithium batteries in the two-wheeled vehicle market is unlimited, and the penetration into shared travel and other fields will accelerate in the future.

With the continuous technological progress of China's lithium battery industry and the gradual decline of production costs, the cooperation between BYD and Zongshen may promote the two-wheeler market into a new era of more efficient and environmentally friendly. Policy support, technological innovation, and cooperation between enterprises will make lithium battery technology acceptable to more users, and gradually replace lead-acid as the mainstream choice in the two-wheeled vehicle market. This cooperation not only consolidates the position of both parties in the new energy market, but also promotes the export of China's lithium battery industry chain to the global market, allowing Chinese companies to play a more important role in the global new energy market.

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